FED: Recovery in the US Depends on the Vaccine

For the United States to recover economically, after being affected by the coronavirus COVID-19, it will depend on the discovery of a vaccine that prevents a pandemic shower, this was announced this Sunday by the head of the Federal Reserve System. System, EDF), Jerome Powell.

After more than 30 million people lost their jobs and many companies have closed across the country, the president of the US central bank warned that it will take time to fully return to normal.

“However, for the economy to fully recover, people will need to regain confidence and perhaps they will have to wait for the arrival of a vaccine. I think there will be a firm recovery in the economy during the second half of the year. ” Jerome Powell, the head of the Federal Reserve System.

The Fed took action even before economic restrictions were implemented, reducing rates and injecting trillions of dollars into the financial system and into loan programs for small and medium-sized businesses, and local and state governments.

But Powell has insisted that the economy will likely need new public outlays for workers and businesses if the US economy is to recover, beyond the nearly $ 3 trillion already approved by Congress.

The crisis “came so quickly and with such force that you really can’t put into words the pain people feel and the uncertainty they face,” he said in an interview.

The Donald Trump government promised to administer hundreds of millions of doses of a vaccine to Americans between now and January 2021. The United States is the country most affected by the pandemic of the new coronavirus COVID-19, with 1.46 million infections and Some 88,700 deaths since the first death linked to the virus was recorded in early February.

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FED: Recovery in the US Depends on the Vaccine - /10

Summary

For the United States to recover economically, after being affected by the coronavirus COVID-19, it will depend on the discovery of a vaccine that prevents a pandemic shower, this was announced this Sunday by the head of the Federal Reserve System. System, EDF), Jerome Powell.

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